Latin America Electric Power Distribution Automation Systems Market 2022-2028
MARKET OUTLOOK
The electric power distribution automation systems market in Latin America is predicted to rise with a CAGR of 7.17% over the projected phase from 2022 to 2028, according to a report from Triton Market Research. Mexico, Brazil, and Rest of Latin America together comprise the market in this region.
The electricity distribution industry in the region, however, is fragmented and inefficient. There is a need to rationalize it in some way in order to ensure sustained financial viability. Moreover, the unawareness regarding the benefits of electric power DAS is restraining the growth of the Latin American market.
Compared to the rest of the world, the Brazilian electricity sector has a different operating model. Distribution here is centralized, where the National System Operator is in charge of determining the generation level at plants, in order to optimize resources, minimize costs, and coordinate transmission facilities.
However, the country has vast energy potential, especially with respect to renewable energy, which is constantly witnessing technological and regulatory innovation. Electricity distributors in the country are responsible for receiving high-voltage power from an interconnected transmission system, in order to lower it to commercial levels and make it accessible to the final consumers. The use of renewable energy presents a growth opportunity to the electric power distribution automation systems market.
COMPETITIVE OUTLOOK
Notable players engaged in the electric power distribution automation systems market include Siemens AG, Hubbell Power Systems, G&W Electric Company, Eaton Corporation plc, Hitachi Ltd, General Electric Company, Honeywell International Inc, and ABB Ltd.
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